Your analysis shows that wave four is 38.2% of wave three and the only way to go is wave five which is up
OlabanjiBabalola
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I don't agree with your analysis, what we have seen so far on gold is a wave 4 of bullish Elliott motive wave and gold is expected to go up to complete the fifth. I expect price to reach 1580.00 region. Also price has been in a channel (a flag formation) your analysis can not come into play unless the channel is broken downwards